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Can Pepe Coin Price Overcome Whale-Induced Setback? Key Support Levels in Focus. Pepe coin price saw a 195% rise, reaching a new high of $0.0000161 before dropping to $0.00000925 due to whale activity. Will the renewed supply pressure push the memecoin to $0.0000782? Contrary to the recent market movement, the Pepe coin price witnessed a notable outflow this week. The supply pressure from its previous all-time high resistance of $0.0000108 tumbled the asset by 18.8% to trade at $0.00000943. With the BTC a at $67000, the PEPE price wavers at the pivotal movement to resume the prevailing rally or enter a new correction. Whale Activity Contributes to PEPE Price Drop. The Pepe coin price has witnessed a steady recovery since last month under the influence of an ascending trendline in daily charts. This dynamic support uplifted the asset value from $0.00000393 to a new all-time high of $0.0000161, registering a 195% growth. According to on-chain data tracker Spot On Chain, a recent transaction by a PEPE whale has significantly impacted the token's price. Thirteen hours ago, a multisignature wallet identified as 0x1a2 deposited 457.9 billion PEPE tokens, worth approximately $4.54 million, to Binance. This move, interpreted as a stop-loss measure, contributed to a 6% price drop in PEPE. Spot On Chain notes that this particular whale has a track record of poor trading decisions. Over the past 15 days, the whale has lost $717,000 (approximately 4.69%) from two separate PEPE trades. Historically, the whale's transactions have often led to sharp price declines whenever large amounts of PEPE were moved. However, this frog-themed memecoin currently hovers above the aforementioned support trendline seeking to be suitable for renewed recovery momentum. Along with the Bitcoin price sustainability above $65000, If the PEPE managed to hold above the rising trendline, the buyers could lead the next recovery leap to $0.0000138, followed by $0.0000167. #MemeWatch2024

Can Pepe Coin Price Overcome Whale-Induced Setback? Key Support Levels in Focus.

Pepe coin price saw a 195% rise, reaching a new high of $0.0000161 before dropping to $0.00000925 due to whale activity. Will the renewed supply pressure push the memecoin to $0.0000782?

Contrary to the recent market movement, the Pepe coin price witnessed a notable outflow this week. The supply pressure from its previous all-time high resistance of $0.0000108 tumbled the asset by 18.8% to trade at $0.00000943. With the BTC a at $67000, the PEPE price wavers at the pivotal movement to resume the prevailing rally or enter a new correction.

Whale Activity Contributes to PEPE

Price Drop.

The Pepe coin price has witnessed a

steady recovery since last month under

the influence of an ascending trendline

in daily charts. This dynamic support

uplifted the asset value from

$0.00000393 to a new all-time high of

$0.0000161, registering a 195% growth.

According to on-chain data tracker Spot On Chain, a recent transaction by a PEPE whale has significantly impacted the token's price. Thirteen hours ago, a multisignature wallet identified as 0x1a2 deposited 457.9 billion PEPE tokens, worth approximately $4.54 million, to Binance. This move, interpreted as a stop-loss measure, contributed to a 6% price drop in PEPE.

Spot On Chain notes that this particular whale has a track record of poor trading decisions. Over the past 15 days, the whale has lost $717,000 (approximately 4.69%) from two separate PEPE trades. Historically, the whale's transactions have often led to sharp price declines whenever large amounts of PEPE were moved.

However, this frog-themed memecoin currently hovers above the aforementioned support trendline seeking to be suitable for renewed recovery momentum. Along with the Bitcoin price sustainability above $65000, If the PEPE managed to hold above the rising trendline, the buyers could lead the next recovery leap to $0.0000138, followed by $0.0000167.

#MemeWatch2024

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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It is possible that we will witness the last rise in 2025, after which we will see the crypto bubble burst. Now ETFs, Bitcoin, are done Ethereum then, Perhaps the last ETF will include the 10 strongest currencies in the market, which will receive liquidity and rise. This is where all these fake and imitation projects will end. Not an investment advice, but believe me previous peaks in some currencies will never break them. Past years are not comparable to the present time In the past, the percentage of currencies was small, and the percentage of currencies offered for sale was small compared to now. Also, currencies are very inflated, needing billions of dollars to rise.... Choose strong projects. While listing its currency, the team offers a small number of currencies for sale on the platforms in order for the price to rise. Investors in the currency or project, with their money estimated at millions of dollars, take a percentage of the project’s currencies, forcing the owner of the currency to reduce the supply of currencies in order for the price to rise and they sell at a profit. While with the passage of time the circultaing supply increases, the currency becomes inflated, and requires large liquidity to rise.
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